Nokian Renkaat cuts outlook, says sales and profit may be flat

HELSINKI Fri Aug 9, 2013 1:22am EDT

HELSINKI Aug 9 (Reuters) - Finnish tyre maker Nokian Renkaat on Friday lowered its full-year outlook, saying it now expects its 2013 sales and operating profit to be flat or show some growth.

The company previously only forecast growth.

Solid sales in Russia, however, helped its second-quarter earnings before interest and tax (EBIT) rise to 120 million euros ($161 million) from 113 million a year earlier. Analysts on average expected a profit of 117 million euros, according to a Reuters poll. ($1 = 0.7471 euros) (Reporting by Jussi Rosendahl; Editing by Ritsuo Ando)

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